Olema (OLMA) Hits 4-Year High as Jefferies Hikes PT

We recently published 10 Stocks Boasting the Biggest Gains; 4 Hit Record Highs. Olema Pharmaceuticals, Inc. (NASDAQ:OLMA) is one of the best performers on Wednesday.

Olema bounced back on Wednesday to hit a new four-year high as investors took heart from an investment firm’s higher price target for its stock.

At intra-day trading, Olema Pharmaceuticals, Inc. (NASDAQ:OLMA) soared to its highest price of $30.97 before trimming gains to finish the day just up by 15.43 percent at $30.68 apiece.

In a market report, Jefferies raised its price target for the company to $43 from $30 previously, marking a 40 percent upside potential from its latest closing price.

The upgrade reflected the investment firm’s confidence in oral Selective Estrogen Receptor Degrader (SERD), supported by Roche’s encouraging results from the phase 3 trial of giredestrant in the treatment of breast cancer.

Olema Pharmaceuticals, Inc. (NASDAQ:OLMA) is also underway with the clinical trial for its own breast cancer therapy called palazestrant.

According to Jefferies, the strong performance of next-generation oral SERDs as compared with standard endocrine therapy continues to validate the entire drug class, adding that such results would bode well for upcoming first-line treatment trials and potentially reduce risk in a market with an estimated $10 billion revenue opportunity.

While we acknowledge the potential of OLMA as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an extremely cheap AI stock that is also a major beneficiary of Trump tariffs and onshoring, see our free report on the best short-term AI stock.